Lars Carlstrom, the founder-CEO of Italvolt and founder of Britishvolt, has announced the launch of a new company, Statevolt, which will construct a 54GWh Gigafactory in Imperial Valley, southern California with an expected CapEx of $4 billion. To launch the new facility, Statevolt has also signed a Letter of Intent (LOI) with Controlled Thermal Resources (CTR).
Under the terms of the LOI, CTR will deliver sustainable, locally produced lithium and geothermal power, from the company’s to-be constructed Hell’s Kitchen Lithium and Power development.
Statevolt is currently undertaking due diligence to determine the best location on which to build its facility.
Once fully operational, the Gigafactory will be one of largest in North America, with a battery production capacity of 54GWh, serving around 650,000 electric vehicles a year at full capacity.
Lars Carlstrom, founder, of Statevolt, says: “The development of lithium-ion batteries is crucial for the U.S. to meet its goals to transition to Net Zero. Statevolt is proud to begin its journey to develop U.S. expertise and production of lithium-ion batteries, as we look to serve this critical market.”
He adds: “Today, we face a significant shortage in the amount of lithium that is required to meet the demand for electric vehicles. We are pioneering a new, hyper-local business model, which prioritises sustainability and resilience in the supply chain to solve this issue.”
Rod Colwell, CEO of Controlled Thermal Resources, comments: “CTR is absolutely delighted to further our relationship with Statevolt. We applaud Lars and his team for taking a proactive approach to ensure the company’s future lithium supply, while also consciously seeking out the cleanest lithium and power available for Statevolt’s first U.S. Gigafactory.”
Statevolt’s planned partnership with CTR brings a new, ‘hyper-local’ sustainable business model for lithium-ion battery development in the U.S. The arrangement is one of the first of its kind in the world and will see the business source its key feedstock, lithium, and its power from local resources, in order to minimise the environmental impact of production and build a more sustainable and secure supply chain.